122,054 Shares in Truist Financial Corporation $TFC Purchased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC purchased a new stake in shares of Truist Financial Corporation (NYSE:TFC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 122,054 shares of the insurance provider’s stock, valued at approximately $6,081,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kemnay Advisory Services Inc. bought a new stake in Truist Financial during the fourth quarter worth about $25,000. Swiss RE Ltd. acquired a new stake in shares of Truist Financial during the fourth quarter worth approximately $26,000. N.E.W. Advisory Services LLC bought a new position in shares of Truist Financial in the second quarter valued at approximately $30,000. McMillan Office Inc. acquired a new position in shares of Truist Financial in the 4th quarter worth approximately $31,000. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its holdings in shares of Truist Financial by 190.7% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 657 shares of the insurance provider’s stock worth $32,000 after acquiring an additional 431 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Truist Financial

In related news, Director K. David Jr. Boyer sold 3,986 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $50.70, for a total transaction of $202,090.20. Following the completion of the transaction, the director owned 10,270 shares in the company, valued at approximately $520,689. The trade was a 27.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William H. Rogers, Jr. sold 13,250 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $52.36, for a total transaction of $693,770.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,516 shares of company stock worth $1,584,428 in the last ninety days. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

TFC has been the topic of a number of research analyst reports. Royal Bank Of Canada increased their price target on Truist Financial from $51.00 to $53.00 and gave the stock an “outperform” rating in a research report on Monday, April 20th. UBS Group downgraded Truist Financial from a “buy” rating to a “neutral” rating and cut their price objective for the company from $58.00 to $55.00 in a research report on Tuesday, July 7th. Wall Street Zen raised Truist Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Morgan Stanley restated an “equal weight” rating and set a $54.00 target price (down from $62.00) on shares of Truist Financial in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. raised their target price on Truist Financial from $53.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $54.67.

Truist Financial Stock Down 0.0%

Shares of Truist Financial stock opened at $53.08 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.73. Truist Financial Corporation has a 12 month low of $40.78 and a 12 month high of $56.19. The business has a fifty day simple moving average of $51.13 and a 200 day simple moving average of $49.80. The stock has a market cap of $64.84 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.12 and a beta of 0.89.

Truist Financial (NYSE:TFC) last released its earnings results on Friday, July 17th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.15. Truist Financial had a return on equity of 10.06% and a net margin of 19.13%.The firm had revenue of $5.31 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the prior year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Research analysts predict that Truist Financial Corporation will post 4.58 EPS for the current year.

Truist Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.9%. Truist Financial’s dividend payout ratio is 47.71%.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.